The senior executive said that NHPC has reached out to various states for exploring business opportunities in the RE sector, but responses have been delayed because of the COVID situation
NHPC has recently empanelled itself with the International Solar Alliance (ISA) in order to explore business opportunities in the solar power sector
New Delhi: State-run NHPC Limited is exploring opportunities for expanding its Renewable energy portfolio in the states of Odisha, Uttar Pradesh, Karnataka, Telangana, Andhra Pradesh, Kerala and Rajasthan, a senior executive with the company said on Thursday. NHPC Executive Director (Renewable Energy) RK Jaiswal added that NHPC has also received a few proposals from Andhra Pradesh and is evaluating them for economical viability. The hydropower company has recently forayed into the RE sector after receiving a nod from its Board of Directors in June.
‘COVID-19 pandemic has held back progress of projects’
Commenting on the impact of the COVID-19 pandemic, Jaiswal said that even though NHPC has reached out to various states for exploring business opportunities in the RE sector, the responses have been delayed because of the COVID situation. The most recent agreement that NHPC had signed was with Odisha’s Green Energy Development Corporation of Odisha Limited (GEDCOL), for the “development of 500 MW floating solar projects in Odisha under UMREPP (Ultra Mega Renewable Energy Power Park).”
NHPC gets ISA empanelment, looking to expand footprint beyond India
NHPC has recently empanelled itself with the International Solar Alliance (ISA) in order to explore business opportunities in the solar power sector and make use of the platform for accessing low-cost funding from solar bonds raised by ISA knowledge partners. “NHPC is in discussion with the ISA to explore business opportunities and is keen on expanding its presence beyond India,” said Jaiswal.
NHPC has ambitious pan-India plans to take expand NHPC’s solar journey to a bigger canvas along with its core business of hydropower development. In the recent months, NHPC has awarded contracts to developers for 2,000 MW grid-connected solar PV projects. The NHPC CMD, AK Singh, has also reached out to Ladakh's Lieutenant Governor RK Mathur to explore opportunities for solar power projects in the region.
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